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Canada Learning Bond Program

Planning for a child’s post-secondary education, whether it is in an apprenticeship program, trade school, college or university, can open up a world of opportunities for a child.

To help save for a child’s future studies, the Government of Canada provides two education savings incentives, which are deposited into a Registered Education Savings Plan (RESP).

  • The Canada Education Savings Grant (CESG) consists of a basic amount of 20% on the first $2,500 in annual personal contributions to an RESP (this grant is available to all eligible beneficiaries regardless of family income), as well as the additional amount of Canada Education Savings Grant, which is:

CESG is available until the end of calendar year in which the beneficiary turns 17, and the maximum lifetime amount, including the additional amount of Canada Education Savings Grant, is $7,200.

  • The Canada Learning Bond (CLB) is available for eligible children from low-income families born in 2004 or later and provides an initial payment of $500 plus $100 for each year of eligibility, up to age 15, for a maximum of $2,000. Personal contributions are not required to receive the CLB.

RESPs are the only savings vehicle that attract the federal and, where applicable, provincial education savings incentives. The money saved in an RESP is not only used to help with tuition, but can also be used to pay for housing, transportation and other education-related expenses, such as textbooks, equipment, supplies, etc., once enrolled in post-secondary education.

2018 marks the 20th anniversary of the CESG: since 1998, almost 6.04 million children have received 11.5 billion dollars in CESG to help make post-secondary education more accessible.

For additional information, please find:

For more information, visit: canada.ca/education-savings